The inclusion of an angel investor on the board is vital if you are looking to raise substantial sums of money to develop your business. It’s a long-winded process that requires lots of networking and laborious work. The key is to connect with the right people and make sure your business plan, pitch deck and a good product or service are all top-quality.
The first step is to do some research on the person you are planning to approach and be aware of their investment style. Utilizing platforms like LinkedIn or Crunchbase is a good method to learn about their investments as well as any areas of expertise. This will help you to cross off a few potential investors off the list, and also give you an idea of what they’re looking for in the company.
Then, you’ll need to make a document outlining your idea, the size of the market, as well as experience and background of your team. This should be written in the style of Guy Kawasaki (meaning, 10 slides in 20 minutes) and be short, concise and concise.
Attending events where you can meet potential angels can be an excellent way to get your business noticed by them. You might be able pitch directly to them.
Angel groups are more formal than individuals, having meetings and due diligence. This makes them more likely than individuals to be the ones leading a fundraising round and offer valuable support in the early stages of a business.